“…the company has sold its land and building measuring around 1.67 acres at Ambattur Industrial Estate in Chennai (Tamil Nadu),”
stated in a regulatory submitting.
“The proceeds of the sale amounted to Rs 21 crore on gross basis. The net proceeds after deduction of statutory liabilities would be utilised towards reducing debt and strengthening the balance sheet of the company,” it stated.
The manufacturing operations on the facility have been discontinued, it stated including, accordingly, this may don’t have any impression on the operations of the corporate.
TACL, along with JV alliances, has eight manufacturing services at Haryana, Uttarakhand, and Maharashtra together with one supplies division in Gurgaon and R&D expertise centre at Faridabad.
The firm has technical collaborations with Nippon Leakless Corporation – Japan and Sanwa Packaging – Japan.
TACL internet revenue surged 144 per cent to Rs 10.16 crore in December quarter of the present fiscal over the identical interval final 12 months on the again of a 35 per cent progress in topline, which stood at Rs 132.1 crore throughout the quarter as in contrast to Rs 97.4 crore in Q3FY20.